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Exploring 2024 Property Tax Assessments: What You Need to Know

Beth Szweda • April 23, 2024

Maximize Savings and Minimize Stress

In St. Joseph, LaPorte, Elkhart, Marshall and counties all across Indiana, anticipation is building as residents await the arrival of their 2024 property tax assessments in the mail, expected to land in their mailboxes by May 1st. This year's assessments are generating considerable interest and concern due to anticipated increases in property taxes driven by rising property values. Fortunately, homeowners have options to navigate these changes. Let's explore the options and how property owners facing assessment-related challenges can navigate this complex system.

Understanding Property Assessments:

Property assessments form the basis for determining property taxes, reflecting the estimated market value of a property as determined by local assessors. These assessments are crucial for ensuring fair and equitable taxation based on current market conditions.

Rising Property Values:

One of the primary factors influencing property assessments in Indiana for 2024 is the significant increase in property values observed in recent years. A robust real estate market has driven up home prices, signaling economic vitality but also potentially leading to higher property taxes for homeowners.

Impact on Homeowners:

For many homeowners in Indiana, the prospect of higher property taxes can pose financial challenges, particularly for long-time residents or those on fixed incomes. As assessments rise, so too can tax bills, placing additional strain on household budgets.

Impact on Businesses:

The implications of rising property assessments extend beyond residential homeowners to affect local businesses in St. Joseph County as well. For commercial and industrial property owners, increased assessments can result in higher operating costs, potentially leading to elevated rental rates or overhead expenses. These additional financial burdens may, in turn, impact businesses' competitiveness and profitability, particularly for small businesses already operating on tight margins. Moreover, rising property taxes can influence business expansion decisions, with some entrepreneurs facing tough choices regarding investments in new locations or the retention of existing ones. In this landscape, Correct Property Tax's expertise can be invaluable to business owners, helping them navigate assessment challenges and explore strategies to mitigate the impact on their bottom line, fostering a thriving business environment in the local economy.

How Correct Property Tax Can Help:

Correct Property Tax offers expertise and assistance to residential and commercial property owners navigating the complexities of property tax assessments. Their experienced professionals understand the assessment process and can help property owners identify potential errors or discrepancies in their assessments, such as inaccuracies in property dimensions or valuation methods.

Appeals and Relief Programs:

Correct Property Tax can assist property owners in appealing their property assessments, advocating for adjustments that reflect fair market values and potentially lowering their tax obligations. Additionally, they can help owners explore available tax relief programs or exemptions for which they may qualify, providing financial assistance to mitigate the impact of higher property taxes.

Looking Ahead:

As property owners in Indiana prepare to receive their 2024 property tax assessments, it's essential to be informed and proactive. With Correct Property Tax LLC's support, taxpayers can navigate assessment-related challenges more effectively, ensuring fair and accurate taxation and safeguarding their financial well-being.

Conclusion:

The arrival of 2024 property tax assessments in Indiana, presents an opportunity for businesses and homeowners to assess their tax obligations and seek assistance where needed. Correct Property Tax offers valuable expertise and support for residents facing assessment-related challenges, from identifying errors in assessments to navigating appeals and exploring tax relief programs. By partnering with professionals like Correct Property Tax, property owners can confidently manage the impact of rising property taxes and secure their financial futures.

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By Beth • July 24, 2018

Notices have been sent to property owners for the 2019 assessment. St. Joseph County Assessor mailed assessment notices to property owners. The mailing of these notices triggers an appeal deadline of August 31, 2018. It's always best to file an appeal as soon as possible. By getting your appeal in early, you will decrease the time required to process the appeal. The assessor's office receives thousands of appeals each year with most arriving in their offices in the last days before the deadline. You can minimize buearocracy by allowing the assessor to add your appeal to their system early. The first thing to do when you receive your notice is to check it against last years' assessment. Prior assessments are listed on the form you receive. Next you should get your Property Record Card online at https://www.stjosephcountyindiana.com/173/Assessor Check all the data on the PRC to make sure it is correct. However don't assume that just because the assessment is correct that there is no chance for a reduction. Studies have shown that as many as 60% of assessments are incorrect throughout the U.S. yet fewer than 5% appeal. Of those who appeal more than half receive a reduction. If a taxpayer uses a representative to appeal for them, that number goes up to 87% success rate. Most tax reps do not charge a fee unless you win and offer a free analysis. It's a low risk, high benefit option. check out http://www.correctpropertytax.com/ and timely file your appeal by August 31st

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By Beth • June 29, 2018

Elkhart County 2019 Assessment Increase Tax assessment notices are out for 2019 and many taxpayers have seen sharp increases. Property owners from retail shops to large manufacturing facilities have seen increases of anywhere from 60% to over 200% increases. All owners, property managers, CFO’s, and Controllers should take a close look at their assessments and investigate reasons for increases. Any time a taxpayer sees more than a 5% increase in assessed value it is a red flag and should be appealed. According to Indiana Code if an assessment is increased by more than 5% and that property is appealed, the burden of proof rests with the assessor as to why that assessment has gone up. You must act quickly. The deadline to file an appeal in Elkhart County Assessor’s Office is July 16th. Taxpayers can get their property records online at Elkhart County Assessor. You can call your assessor for more information at (574) 535-6700. There is also helpful information at the Department of Local Government Finance. If a taxpayer needs more in-depth expert advice contact Correct Property Tax LLC (574) 286-0431. They will handle the appeal with no fee unless they win. The owner of Correct Property Tax, Beth@CorrectPropertyTax.com , has 30 years experience reducing taxes for national companies and locally owned businesses.

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CPT is now offering an easy way to appeal your property taxes. We know that during these uncertain times, having a large property tax bill arrive can be overwhelming. There is something you can do. With our free analysis, you can possibly appeal the assessment and save hundreds of dollars. We have worked hard to streamline the process of access to our highly effective strategy for winning appeals. Put our experts to work today to give you the best possible chance of winning your appeal and paying nothing more than your fair share of taxes!